After an economic review meeting chaired by Prime Minister Narendra Modi, India's finance minister said the government plans to take measures to cut down "non-necessary" imports, ease overseas borrowing norms for the manufacturing sector and relax rules around banks raising masala bonds, or rupee-denominated overseas bonds.

Infosys will only take the arbitration route to resolve disputes, claims and grievances between its chief executive and the company, should such a situation arise in the future, according to its 20-F report filed with the US Securities and Exchange Commission.

This comes after the Indian Rupee plunged to an all-time low of Rs.68.89 per US dollar earlier this week, owing to an increase in the international crude oil prices and trade war concern between the United States and China.